Powder Coatings Market Size to Reach Revenues of around USD 14 Billion by 2026 - Arizton

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Apr 13, 2021, 09:00 ET

CHICAGO, April 13, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global powder coating market report.

The powder coating market is expected to grow at a CAGR of approximately 6% during the period 2020−2026.

Key Highlights Offered in the Report:

APAC is the largest region for the powder coatings market and contributes over 54% to the overall powder coatings market. Major countries supplementing the growth of powder coatings in APAC are China, India, Japan, and other Southeast Asian countries.
Automotive and appliances are one the major end-user segments, accounting for around 45% of the global powder coatings market. Powder coatings are widely used in automotive and consumer goods as they provide superior appearance and finish as compared to liquid coatings and are more corrosion and abrasion resistant.
Thermoset resin is widely used in the powder coatings market and these coatings are based on lower-molecular-weight solid resins.
Additional factors driving the powder coatings market are zero VOC content; these coatings are thicker coatings as compared to conventional liquid coatings.
There are promising opportunities for various vendors, where they are focusing on intense R&D to provide low temperature cure powder coating and diversification in Wood, MDF, plastics, and others.
Companies are shifting their production and proximity to developing countries such as India, Indonesia, and Malaysia to benefit from the low cost of production.

Key Offerings:

Market Size & Forecast by Revenue | 2020−2026
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by resin type, end-user, and geography
Competitive Landscape – 5 key vendors and 28 other vendors

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Powder Coatings Market – Segmentation

Polyester epoxy-based powder coatings have largely indoor applications. The metal office industry, which requires semi and low gloss finishes, is one of the significant application end-users of hybrid polyester resins. They have high scratch and impact resistance and withstand an array of cleaning agents.
Polyurethane-based powder coatings have exterior application and are stable than epoxies. They withstand chemical exposure and offer a broad spectrum of benefits and applications. The demand for polyurethane is expected to increase during the forecast period with growing industrial developments and the increasing demand from automotive, aerospace, and construction industries.
The appliances industry is the largest contributor to the global powder coatings market. Powder coatings are widely applied on appliances as they provide two-fold benefits - aesthetics and resistance to corrosion. They are used in kitchen appliances as they are economical and easy to coat, and they deliver excellent durability and resistance to chemicals and detergents.

Powder Coatings Market by Resin Type

Thermoset Resin

Epoxy
Epoxy polyester
Polyester
Polyurethane
Others

Thermoplastic Resin

Powder Coatings Market by End-User Industry

Appliances/ Consumer Goods
Automotive
General Industrial
Furniture
Architectural
Others

Powder Coatings Market – Dynamics

Powder coatings are widely used in a wide range of applications, such as bodywork, trims, aluminum wheel rims, and underbody components to provide color, good aesthetics, and high performance. These coatings facilitate environmental protection as they do not use solvents; therefore, no harmful emissions are released into the atmosphere, eliminating the need for costly waste disposal systems. Also, if the powder coating is overspread, it can be collected and reused, resulting in additional cost savings. Further, the application of powder coatings does not cause running or dipping, providing a uniform layer along with a superior finish. Thus, powder coatings are widely preferred by the automotive market, mostly used in the body of the automotive structure. They are also an alternative to liquid coatings, helping to reduce the number of steps and applications associated with liquid coatings.

Key Drivers and Trends fueling Market Growth:

Increasing Use of Low-Temperature Powder Cure Technology
Sustainable Powder Coatings with Recycled plastics
Powder Coatings Generating Low or No VOC
Evolving Use in the Aerospace Market

Powder Coatings Market – Geography

APAC is the world's largest coatings market and is growing above the market rates in terms of value. The region accounts for a 54% market share in terms of value. APAC comprises some of the most dynamic economies, such as China, India, Japan, South Korea, Indonesia, Malaysia, Vietnam, and other countries. The demand for powder coatings in China is driven by increased investments in construction, which contributes around 40% to global construction. The development of high-quality infrastructure in China and India has become one of the major growth enablers in the powder coatings market in recent years. China is a major producer and consumer of powder coatings. An increase in income and rapid urbanization have led to the growth of construction, industrialization, and power generation sectors, which, in turn, has increased the demand for powder coatings.

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Powder Coatings Market by Geography

North America

US
Canada

Europe

UK
Germany
France
Russia
Spain

APAC

China
Japan
South Korea
India
Indonesia
Thailand

Latin America

Brazil
Mexico

Middle East & Africa

Saudi Arabia
UAE
South Africa

Major Vendors

AkzoNobel
PPG Industries Inc.
Sherwin Williams
RPM International Inc.
Axalta Coatings Systems
DSM

Other Prominent Vendors

Allnex Italy SRL
Arkema SA
Asian Paints Limited
BASF
Berger Paints
Diamond Vogel
Dulux Group
Jotun
Eastman Chemical Company
Evonik
Nippon Paint Holdings Limited
Tiger Coatings
Teknos
Kansai Paint
KCC Corporation
Sika AG
Wacker Chemie AG
Arsonsisi s.p.a
iBA Kimya
CWS Powder Coatings
Erie Powder Coatings Inc.
Europolveri SpA
Hentez Coatings Inc.
IFS Coatings
Karl Wörwag Lack-und Farbenfabrik GmbH & Co.KG
Keyland Polymer
Modern Sak Factory

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About Arizton:

Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

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SOURCE Arizton Advisory & Intelligence